Nakabohtec Corrosion Protecting Co.,Ltd. announces an Equity Buyback for 83,700 shares, representing 3.36% for ¥300 million.
May 11, 2020 at 04:00 am EDT
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Nakabohtec Corrosion Protecting Co.,Ltd. (JASDAQ:1787) announces a share repurchase program. Under the program, the company will repurchase 83,700 shares, representing 3.36% of its share capital, for ¥300 million. The company will repurchase its shares in order to strengthen shareholder returns and improve capital efficiency. The program will run until May 21, 2021. As of March 31, 2020, the company had 2,487,863 shares outstanding (excluding treasury shares) and 114,637 shares in treasury.
Nakabohtec Corrosion Protecting Co., Ltd. mainly conducts electric anticorrosion, corrosion protective covering and anticorrosive coat-related works to various facilities. The Company operates in three business segments. The Port segment conducts electric anticorrosion, corrosion protective covering and anticorrosive coat-related works for port facilities and vessels. The Underground segment conducts electric anticorrosion, corrosion protective covering and anticorrosive coat-related works for underground buried facilities, as well as underground and aboveground tanks. The Ground segment conducts electric anticorrosion, corrosion protective covering and anticorrosive coat, electrolytic iron supply and antifouling works for onshore facilities and plant equipment. The Company also conducts electric anticorrosion and corrosion protective covering works for reinforced concrete structures. In addition, the Company sells anticorrosion-related materials and equipment.
NAKABOHTEC CORROSION PROTECTING CO.,LTD. 
